Financial close has been reached on the 25-year contract for the Northwood Military Headquarters accommodation project.
The project involves a £150m construction programme over five years, plus added support services worth around £440m over the course of the contract period. The scheme is sponsored by a 50:50 joint venture between Carillion and HSBC Infrastructure Fund Management. DEPFA provided a £200m term loan, standby and equity bridge facilities.
The project aims to provide the best value support services into the future, whilst ensuring the continuity of operational output. The development of the Northwood site will improve the efficiency of operations, enhance the quality of life for personnel and provide flexibility into the future.
Operis were engaged to provide financial model due diligence and tax and accounting advice.